XRP Futures Set CME Speed Record—Ahead Of BTC And ETH
CME Group said late Monday that its crypto futures complex topped $30 billion in notional open interest for the first time, with a duo of products—SOL and XRP futures—each crossing $1 billion in open interest. In the same post, CME underscored that XRP futures were the “fastest-ever” contract on the venue to clear the $1 […]
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Prominent investment manager VanEck has revealed plans to launch an Ethereum Futures exchange-traded fund (ETF). Interestingly, this development comes a few hours following news that the US Securities and Exchange Commission (SEC) was looking to fast-track the approval of some Ether futures ETF applications ahead of a US government shutdown. Related Reading: BREAKING: Coinbase Granted […]
The Department of Commerce’s new report shows 33.1% annualized GDP growth in Q3, but does this really tell us much about the state of the economy?
Bitcoin slipped into negative territory ahead of the Federal Reserve Chairman Jerome Powell’s scheduled speech about the US economy. The benchmark cryptocurrency waved between profits and losses, only to fall by 0.85 percent to $10,701 ahead of the New York opening bell. Futures tied to Bitcoin also plunged by 0.37 percent, signaling a rough start […]
Demand for XRP on the CME derivatives exchange continues to rise, providing a bullish outlook for the altcoin. This comes ahead of the potential approval of the XRP ETFs, which could further spark institutional demand for XRP. CME XRP Futures Hit New Milestone In an X post, the CME group announced that it has hit its four-month milestone for XRP futures, with a notional trading volume of $18.3 billion, 6 billion XRP traded, and 397,000 contracts traded. This again highlights the demand for the altcoin, with the derivatives exchange previously stating that the altcoin’s futures products....
Backwardation reflects a market condition wherein spot prices trade higher than future prices. Ether (ETH) bulls like a positive spread between its spot and ETH futures prices because the so-called contango reflects optimism about a higher rate in the future. But as of Aug. 1, the Ethereum futures curve slid in the opposite direction.Ethereum quarterly futures in backwardationOn the daily chart, Ethereum futures quarterly contracts, scheduled to expire in December 2022, have slipped into backwardation, a condition opposite to contango, wherein the futures price becomes lower than the spot....